Heiq Share Discussion Threads

[neilyb675] 19/2/2024 14:51

9.00 - 9.95 (GBX) at 11:01:38
on Market (LSE)

[neilyb675] 19/2/2024 14:43

9.00 - 9.95 (GBX) at 11:01:38
on Market (LSE)

[pireric] 18/2/2024 09:45

Why did Deloitte resign as auditor? Isn't there a legal obligation to inform shareholders whether Deloitte found something they didn't like or not?

Eric

[2bluelynn] 18/2/2024 09:41

I think this is not for Widows and Auphins

[gamblor1] 16/2/2024 15:17

Can anyone give clarity as to what they think is going on?

[gamblor1] 16/2/2024 15:16

Don’t totally understand implications of most recent announcements

The 10 million grant for Aeoniq sounds positive?

[catabrit] 15/2/2024 19:48

Placing. EBITDA below market expectations. Resignation of auditor.

Very glad I bailed.

[piedro] 05/1/2024 06:49

FWIW ...

Industry Talk
HeiQ’s biobased technologies unlock better sleep
HeiQ Skin Care, HeiQ Allergen Tech, HeiQ Cool, and HeiQ Mint will be showcased at the Heimtextil show in Frankfurt this month.

[catabrit] 30/11/2023 08:07

Settled the 100m USD claim for 2.75m USD. Says it all I think!

[hedgehog 100] 09/11/2023 17:18

LSE % Losers Top Lists
EPIC Name %
NEO Neo Energy Metals -99%
SIV Sivota -41%
HEIQ Heiq -28%

HEIQ is showing as third on ADVFN's top fallers list today, but it's really second, as the NEO figure is incorrect (due to it having taken over a historic ticker today).

A HEIQ fall of 5p to 13p, on volume of 925,391 shares traded.
But even 13p is still quite a sizeable market cap. of £18.27M. though.

After the big volume you would expect on the first day back from suspension, this is fairly comparable to its other daily volume since then.

Two big trades were reported after hours, one buy and one sell, but with the buy trade being by far the bigger.

Date Time Trade Prc Volume Buy/Sell Bid Ask Value
09-Nov-23 16:37:32 13.00 300,000 Sell* 13.00 13.40 39.00k O
09-Nov-23 16:37:28 13.71405 102,048 Buy* 13.00 13.40 13.99k O

[hatfullofsky] 09/11/2023 16:52

Paul Scott extremely negative on his pod

[kemche] 09/11/2023 16:41

Could he be any wrongerer?


PWhite733 Nov '23 - 11:51 - 228 of 234
0 0 1
Catabrit - "It would not surprise me if this slowly faded down."

You couldn't be more wrong. That the stock has held firm at 20p on the bid side when all the sells are AT suggest there is a buying picking up stock big time.

[davemac3] 09/11/2023 16:29

Big drop on small volume

[jammytass] 09/11/2023 16:03

has the bod been naughty? fraud!!!???? hugo boss pulls out?

[glavey] 09/11/2023 15:41

Banana skin?

[ali47fish] 09/11/2023 13:05

any reason for today's fall

[hedgehog 100] 06/11/2023 14:09

30/10/2023 07:01 UK Regulatory (RNS & others) HeiQ PLC Interim Results LSE:HEIQ Heiq Plc

"Half year results for the period ended 30 June 2023

... Financial Overview:

-- Revenue reduced by 26% to US$20.5 million (H1 2022 restated*: US$27.6 million)
-- Gross profit margin of 40.9% (H1 2022 restated*: 41.5% in H1 2022)
-- Adjusted EBITDA of US-$3.6 million (H1 2022 restated*: US$0.7 million)
-- Operating loss of US-$6.0 million (H1 2022 restated*: US-$1.6 million)
-- Loss after taxation of US$-6.5 million (H1 2022 restated*: profit of US-$1.9 million)
-- Cash balance as at 30 June 2023 of US$7.3 million

* Details on restatements of prior year financial information are disclosed in Note 2 of t he Consolidated Financial Statements.

Operational Overview:

Trading conditions for the markets of our commercialized product range continued to be challenging during H1 2023 and, as highlighted in detail in our Full Year results for the 12 months to 31 December 2022, the Company took decisive steps to reduce its cost base and reorganize the business to maintain its innovation and differentiation capabilities during the period under review. With costs reduced and operations adapted in light of the challenging headwinds our entire industry is facing, the Company expects H2 2023 trading to stabilize

... Liquidity as of 30 June 2023 & Going Concern Assessment

As of June 30, 2023, the Company reports a cash balance of US$7.3 million (December 31, 2022: US$8.5 million). To manage its cash balance, the Group has access to credit facilities totalling CHF9.0 million (approximately US$9.8 million as of September 30, 2023). The credit facilities are in place with two different banks and both contracts have materially the same conditions. The facilities are not limited in time, can be terminated by either party at any time and allow overdrafts and fixed cash advances with a duration of up to twelve months.

As of September 30, 2023, the Group has drawn CHF6.3 million of the facilities (CHF2.4 million as of December 31, 2022) (see Note 2 for details including maturity dates). The facilities are not committed, but the Board has not received any indication from financing partners that facilities are at risk of being terminated. Furthermore, the Board is in discussions with financial institutions to replace the currently uncommitted credit facilities by committed, long-term facilities, but the outcome of these discussions remains uncertain.

The Group's directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future and operate within its credit facilities for the period 12 months from date of signature. Nevertheless, the Board acknowledges the uncommitted status of the facilities which could be terminated requiring the refinancing of debts, and which casts material uncertainty on the going concern assessment until appropriate longer-term funding is in place. Further disclosures on the going concern assessment are made in the notes to the financial statements. ..."




So HEIQ expects H2 trading to "stabilize".

I take that to mean that they expect it to be similar to H1, as opposed to getting worse.

Though this is still just an expectation, two thirds of the way through this period.

And this is despite having reduced costs in H1.

Other things being equal, such stabilisation would suggest a H1 operating loss of c. US$6M., like H1.

Cash at 30.6.23 was US$7.3M., but this is balanced out by the short-term borrowings of US$7.47M. at 30.6.23.

HEIQ has CHF9.0 million (equating to c. US$9.8 million as at 30.9.23) of (discretionary) credit facilities, but as at 30.9.23 had drawn down 70% of these, with just CHF2.7 million left, having drawn down CHF3.9 million in the first 9 months of this year, an average drawdown rate of CHF1.3 million per quarter.
So at this rate of drawdown the facility would be exhausted by early April 2024.

That seems incongruous with the company's indication that funds should last until late October next year.
In order to last that long, with no additional injection of funds, you would think that trading would have to improve significantly ... whereas the company is only expecting stabilisation.
Replacement of the short-term credit facility with a long-term facility of the same size wouldn't actually provide more money.

So the bottom line is that the company looks to be running out of money, and has a bad track record of misleading investors with its forecasts.

A big placing looks to be the most likely outcome, probably within the next few/several months.

And in the current very bad fundraising environment for loss-making companies like this, that is likely to be at a lot less than the current share price of 20p.

That I believe is why HEIQ's CEO hasn't bought shares since the company's return from suspension, despite coming out of the close period: he's 'keeping his powder dry' for a forthcoming discounted placing.

And if he apparently doesn't have confidence in the current s.p., despite the big drop since his buys in January at 28p average & 34p, then why should anyone else?

[pugugly] 03/11/2023 11:57

Darren Morcombe – Chairman of the Board


2001 to current Springtide Capital Pty Ltd Founder & Ex-ChairmanCurrent CVW CleanTech Lead Investor & ChairmanCurrent Foran Mining Corp (FOM.V) Founder, Lead investor & Advisor to CEOCurrent Heiq (HEIQ.

[pwhite73] 03/11/2023 11:51

Catabrit - "It would not surprise me if this slowly faded down."

You couldn't be more wrong. That the stock has held firm at 20p on the bid side when all the sells are AT suggest there is a buying picking up stock big time.

[catabrit] 03/11/2023 11:24

Interesting RNS. I am surprised that Carlo did not buy. No disrespect to Darren who I am sure is a good investor but the fact that Amati sold almost their entire stake at the bottom says everything you need to know about HEIQ’s future shareholder base I.e it ain’t going to be institutional. The rise in the share price has made me look very stupid (happens all the time in the short term so I get used to it!) but I stand behind my thesis. I think this will be in the doldrums for a long time. Even the moonshot bets are way off from meaningful revenue and with rates at 5% and a tonne of VC type bets available at 15-35p in the £ (GROW and multiple others), I can’t see why the market would value HEIQ’s portfolio at a premium. It would not surprise me if this slowly faded down. It is now at a market cap where the vast majority of money just doesn’t give a damn. I look at the balance sheet and the cash flow statement and I look at the markets that HEIQ operates in and there is nothing that entices me to buy it. I suppose people will fall in and out of love with the story and good luck to them.

[livewireplus] 03/11/2023 08:28

Anyway I'm off back yo bed with my warm duvet :-)John Lewis Active Anti-Allergy with HeiQ Allergen Tech* Duvet, 10.5 Tog, Doublehttps://www.johnlewis.com/john-lewis-active-anti-allergy-with-heiq-allergen-tech-duvet-10-5-tog/p6428198

[livewireplus] 03/11/2023 07:56

We seem to have a disgruntled constant down-ticker who actively reads this thread- well the world takes all sorts ... otherwise it'd be boring.

[livewireplus] 03/11/2023 07:31

Is it this one?'Darren is a major shareholder of several public companies."https://gb.wallmine.com/tsxv/fom/officer/1664131/darren-morcombe